Jul. 9 at 10:49 PM
$BRAZ President Donald Trump said Wednesday the U.S. will impose a 50% tariff on imports from Brazil starting Aug. 1, partly in retaliation for the ongoing prosecution of the country’s former president, Jair Bolsonaro.
Trump said in a letter that the new tariff — a massive jump from the 10% rate the U.S. imposed on imports from Brazil in early April — is also a response to the “very unfair trade relationship” between the two countries.
The letter to Brazil’s current president, Luiz Inacio Lula da Silva, followed nearly two dozen others that Trump has recently sent to other world leaders, dictating steep new tariff rates on the goods they sell to the U.S.